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20121227
20121227
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year's to be signed into law. today is the 27. and so you have a few days left for lawmakers to make a deal. the president's should land at some point. there is a 5 hour time difference. they have to figure out something. it seems likely will go over the cliff. it has been looking like that before the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. the question is, who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across -- and then delay the across the board automati
they want to bill, the infrastructure, the programs they make into law. guest: i think james hits on the virtue of a flat tax, having a low, single rate, getting rid of all the loopholes in the tax code and having the government learn to live within its means. that would take some time, but it is eminently doable with positive reforms on the entitlement for younger people. you do not have to change the benefit formulas for those on medicare or social security or who are about to go on those systems. as younger people know, those systems are headed for a crash. the sooner we reform them in a positive way, the better. the key to do it is not by raising taxes, but by having a low single rate and they learn to live within it. i think you'll have a much more prosperous country for it. host: let's end where we started. what do you think the best solution in your personal view and your business view is to the fiscal cliff situation? guest: aside from not doing something foolish and the next three or four days -- that is why i do not mind kicking the can down the road -- would be to follo
they cannot afford to repay. the national consumer law attorney took part in the discussion examining student loan debt and its effects on both the student and the parents. this is about an hour and 20 minutes. >> with a degree come student debt. i'm really happy to be here tonight. it is great to take some time, to have this many and this whole set up to discuss these things, and these issues. i think propublica does a fantastic job with this, as they do with everything. we are happy to have a fantastic panel with the array of experts you would want to be discussing this issue. marion has been covering this for propublica, and a month ago had a fantastic piece that would-be the result of months of investigation of the debt burden on parents. that is an aspect that not a lot of people have been talking about. although you may have read about it on the cover of the "new york times" today, a month ago is when she began talking about it. we have the publisher and author of a best seller called "secrets to winning a scholarship." next to him, an attorney with the national consumer law center and
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